mocfly Posted August 17, 2014 Report Share Posted August 17, 2014 Looking for opinions on best finance companies, rates and terms. Link to comment Share on other sites More sharing options...
FlyingMonkey Posted August 17, 2014 Report Share Posted August 17, 2014 US Aviation Financing did pretty well by me in my estimation, and they will finance LSA purchases. Link to comment Share on other sites More sharing options...
Doug G. Posted August 17, 2014 Report Share Posted August 17, 2014 I used a partial mortgage on our house so I did not have to pull money from investments. (I don't know what the rates are at the moment however.) Link to comment Share on other sites More sharing options...
FastEddieB Posted August 18, 2014 Report Share Posted August 18, 2014 I used a home equity loan to buy my Cirrus. Good rates that way, if you have home equity and are 100% sure of your ability to pay on the loan. Link to comment Share on other sites More sharing options...
Anticept Posted August 18, 2014 Report Share Posted August 18, 2014 I used a home equity loan to buy my Cirrus. Good rates that way, if you have home equity and are 100% sure of your ability to pay on the loan. Or if you don't mind living out of your airplane Link to comment Share on other sites More sharing options...
Doug G. Posted August 18, 2014 Report Share Posted August 18, 2014 I think it has to have a bathroom and a kitchen to be called a home, for loan purposes. Link to comment Share on other sites More sharing options...
Anticept Posted August 18, 2014 Report Share Posted August 18, 2014 I think it has to have a bathroom and a kitchen to be called a home, for loan purposes. My plane has a window and a car charger. Does that count? Link to comment Share on other sites More sharing options...
Doug G. Posted August 18, 2014 Report Share Posted August 18, 2014 I think it would be extremely difficult to use the window as bathroom, and the 12v socket won't handle much of a hotplate, so probably not. The dumpster idea might have possibilities, but I am not certain how much of a loan you could get. Link to comment Share on other sites More sharing options...
FlyingMonkey Posted August 18, 2014 Report Share Posted August 18, 2014 My plane has a window and a car charger. Does that count? a 12v hotplate on the glareshield could be a "kitchen". Link to comment Share on other sites More sharing options...
liltaka Posted September 4, 2014 Report Share Posted September 4, 2014 Looking for opinions on best finance companies, rates and terms. I did mine through Bank of America. I think it was something like low to 5% for 15yrs. Link to comment Share on other sites More sharing options...
Dan Kent Posted September 4, 2014 Report Share Posted September 4, 2014 I had a whole life policy that I bought in my 20's that I borrowed against. The loan rate is 6.15%, but they are paying now over 5% in dividends on the full cash value, so my effective rate is a little over 1%. I can also pay back nothing to whatever I want on the payment. Of course, if you don't pay it back it will affect your beneficiaries. Link to comment Share on other sites More sharing options...
GravityKnight Posted September 16, 2014 Report Share Posted September 16, 2014 Just finished paying off my little house. Turned around and borrowed 65k against it... 10 year loan, 4.5% at my local bank. Should have the money around the end of the week....and then some quality time on barnstormers Link to comment Share on other sites More sharing options...
FastEddieB Posted September 16, 2014 Report Share Posted September 16, 2014 Strike while the iron is hot!!! That's largely how I financed my Cirrus, and then threw in as much extra principal each month as I could, and got it paid off in a few years. At 4.5% interest it might or might not make sense to pay down principal, since one can find investments that pay about that and if interest rates increase or inflation takes off, that 4.5% loan will look even better! Link to comment Share on other sites More sharing options...
FlyingMonkey Posted September 16, 2014 Report Share Posted September 16, 2014 That's great...$65k is a nice lump for an aircraft. Any idea what you are looking for? I love helping pilots shop for airplanes! Link to comment Share on other sites More sharing options...
FlyingMonkey Posted September 16, 2014 Report Share Posted September 16, 2014 Todd, you could be "Fast Eddie Jr": http://www.barnstormers.com/classified_932652_BEAUTIFUL+SKY+ARROW+650+TCN.html Seems a good price for a Sky Arrow, even if it's only 80hp. Slower, but what a low fuel burn you'd have! Link to comment Share on other sites More sharing options...
GravityKnight Posted September 16, 2014 Report Share Posted September 16, 2014 haha!! Looking for a Kitfox 5 or later, tricycle gear preferred but open to conventional. Not sure what I really want engine wise- if I get one with the 80hp Rotax, it should be better suited to turbo, but until that happens, it pretty much wouldn't fly up here. Can't afford a 914... an IO-233 would be awesome (but they are pricey too).. I probably wouldn't buy anything with an 0-200 (too underpowered). A 100hp rotax of course is the most affordable option to just get in the air - but doesn't leave much room for upgrades down the road to combat high elevation. Which isn't all bad... I could be figuring out something completely custom (honda fit engine, turbo subaru etc.) while enjoying flying the plane! Other than a kitfox... I would consider a CH750, Skyranger, A22 foxbat. But the kitfox fits the bill the best, pretty STOL-ish, decent cruise (95-100knot +) removable doors, nice cargo area etc. Thanks Andy, appreciate you spending some of your time looking around! Link to comment Share on other sites More sharing options...
FlyingMonkey Posted September 16, 2014 Report Share Posted September 16, 2014 No problem, window shopping is fun! More comfy than a Kitfox, tricycle gear and a BRS! http://www.barnstormers.com/classified_938394_+Rans+S-6+ES+Coyote+II.html Link to comment Share on other sites More sharing options...
FastEddieB Posted September 16, 2014 Report Share Posted September 16, 2014 Nice catch on that Sky Arrow. As a point of information, not a Light Sport. But with a max gross of 1,433 it would have a greater useful load. Interesting find, nonetheless. Link to comment Share on other sites More sharing options...
Tom Baker Posted September 16, 2014 Report Share Posted September 16, 2014 Don't be to hung up on the horsepower thing. There is much more to aircraft performance than just the engine. I have heard that a 65 HP Taylorcraft does fine at your altitude, so one with a 100 Continental would be great. Link to comment Share on other sites More sharing options...
WmInce Posted September 16, 2014 Report Share Posted September 16, 2014 Just finished paying off my little house. Turned around and borrowed 65k against it... 10 year loan, 4.5% at my local bank. Should have the money around the end of the week....and then some quality time on barnstormers If you want a Kitfox, then take a look at this one. I looked at it at Lakeland Sun n' Fun last year. A parachute can be added to it initially or later. Due to lower MTOGW, performance is very good. http://www.aerotrek.aero/aeropro.htm Link to comment Share on other sites More sharing options...
GravityKnight Posted September 16, 2014 Report Share Posted September 16, 2014 Don't be to hung up on the horsepower thing. There is much more to aircraft performance than just the engine. I have heard that a 65 HP Taylorcraft does fine at your altitude, so one with a 100 Continental would be great. Well a 100hp CTLS is under powered up here (at gross in the summer you are looking at 200-300 fpm climb) And a CH750 with an 0-200 is massively underpowered. It's not even flyable with 2 people on board in the summer time. I've tried, it won't leave ground effect. 10k+ density altitude hurts. However..I realize that aircraft A may operate better with 80hp vs. aircraft B... and I can of course hope that a Kitfox or something else may make more use of whatever HP is has than the planes I have flown... but weight vs. power will still come into play. I like flying in the mountains which puts me at 12500-14000+ and it just takes good old HP to climb up that high. I think a low boost 912UL would be awesome... set it up for around 100-105hp but be able to maintain good power at high altitude. If you want a Kitfox, then take a look at this one. I looked at it at Lakeland Sun n' Fun last year. A parachute can be added to it initially or later. Due to lower MTOGW, performance is very good. Thanks! looking into these right now... I should probably start my own thread, I have basically hijacked this one. Link to comment Share on other sites More sharing options...
FlyingMonkey Posted September 16, 2014 Report Share Posted September 16, 2014 If you want a Kitfox, I would learn to fly a tail dragger. Lower drag will give you better performance all around, plus it will be better on that rough strip of yours. And you get a new skill to master! A good buddy of mine flies a 65hp Avid, a progenitor of the Kitfox, and it is a surprisingly good performer, even with his 185lb and my 190lb on board. Link to comment Share on other sites More sharing options...
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